Price T Rowe Associates Inc. MD Reduces Stock Position in IDEAYA Biosciences, Inc. $IDYA

Price T Rowe Associates Inc. MD cut its holdings in shares of IDEAYA Biosciences, Inc. (NASDAQ:IDYA) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,475,622 shares of the company’s stock after selling 391,286 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.97% of IDEAYA Biosciences worth $56,931,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its position in IDEAYA Biosciences by 13.5% during the 4th quarter. Janus Henderson Group PLC now owns 5,857,639 shares of the company’s stock valued at $150,606,000 after purchasing an additional 695,263 shares during the period. Vanguard Group Inc. raised its position in shares of IDEAYA Biosciences by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,092,619 shares of the company’s stock worth $83,417,000 after purchasing an additional 14,535 shares during the period. Deerfield Management Company L.P. Series C raised its position in shares of IDEAYA Biosciences by 5.5% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 2,736,000 shares of the company’s stock worth $70,315,000 after purchasing an additional 142,000 shares during the period. Fiera Capital Corp raised its position in shares of IDEAYA Biosciences by 2.1% during the first quarter. Fiera Capital Corp now owns 1,209,865 shares of the company’s stock worth $19,818,000 after purchasing an additional 25,398 shares during the period. Finally, Bank of America Corp DE raised its position in shares of IDEAYA Biosciences by 5.9% during the fourth quarter. Bank of America Corp DE now owns 747,934 shares of the company’s stock worth $19,222,000 after purchasing an additional 41,390 shares during the period. Institutional investors and hedge funds own 98.29% of the company’s stock.

Wall Street Analyst Weigh In

IDYA has been the topic of several recent analyst reports. The Goldman Sachs Group raised IDEAYA Biosciences to a “hold” rating and set a $25.00 price target on the stock in a research report on Thursday, July 10th. Wells Fargo & Company assumed coverage on shares of IDEAYA Biosciences in a report on Thursday, June 26th. They issued an “overweight” rating and a $44.00 price objective for the company. TD Cowen assumed coverage on IDEAYA Biosciences in a research report on Tuesday, July 22nd. They set a “buy” rating for the company. JPMorgan Chase & Co. upped their target price on IDEAYA Biosciences from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, July 28th. Finally, Royal Bank Of Canada raised IDEAYA Biosciences from an “outperform” rating to a “moderate buy” rating and reduced their price objective for the company from $57.00 to $30.00 in a research report on Wednesday, July 9th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.10.

IDEAYA Biosciences Trading Up 0.6%

IDYA stock opened at $24.86 on Wednesday. The business’s 50-day moving average price is $23.08 and its two-hundred day moving average price is $20.40. The firm has a market cap of $2.18 billion, a PE ratio of -6.56 and a beta of 0.09. IDEAYA Biosciences, Inc. has a 1-year low of $13.45 and a 1-year high of $40.25.

IDEAYA Biosciences (NASDAQ:IDYA) last posted its earnings results on Tuesday, August 5th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.03). The business had revenue of $6.00 million during the quarter, compared to analysts’ expectations of $3.48 million. The company’s quarterly revenue was up NaN% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.68) EPS. On average, analysts forecast that IDEAYA Biosciences, Inc. will post -3.07 earnings per share for the current year.

IDEAYA Biosciences Company Profile

IDEAYA Biosciences, Inc, a synthetic lethality-focused precision medicine oncology company, discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States. The company's products in development include IDE196, a protein kinase C inhibitor that is in Phase 2/3 clinical trials for genetically defined cancers having GNAQ or GNA11 gene mutations; IDE397, a methionine adenosyltransferase 2a inhibitor that is in Phase 1/2 clinical trials for patients with solid tumors having methylthioadenosine phosphorylase gene deletions, such as non-small cell lung, bladder, gastric, and esophageal cancers; IDE161, a poly ADP-ribose glycohydrolase inhibitor that is in Phase 1 clinical trial to treat tumors with homologous recombination deficiency (HRD), and other genetic or molecular signatures; GSK101, a Pol Theta Helicase inhibitor that is in Phase 1 clinical trial for the treatment of tumors with BRCA or other homologous recombination, and HRD mutations; and Werner Helicase inhibitors for tumors with high microsatellite instability.